You really should start a new thread with this question.
The answer to your question is "Yes." You can calculate heart rate
using autocorrelation. Depending upon how fast you want an update
(every beat, every ten beats) and what you want the delay to be, (none,
ten seconds, etc.) it may be easier to use a fourier transform based
method. If you give a bit more information about what problem you
are trying to solve, we can be more helpful. LabVIEW contains a
huge number of analysis routines. You can usually solve any one
problem at least three or four different, valid ways. The best
way will be determined by what you are trying to do.